DOB: Douglas G. McCaskey, Denial and Rejection of Originator Registration

February 14, 2008
 
FIRST CLASS AND REGISTERED MAIL
 

Mr. Douglas G. McCaskey
26 Gay Bowers Road
Fairfield, CT 06824
 
Re: Denial and Rejection of Originator Registration
 
Dear Mr. McCaskey:
 
On October 24, 2007, Connecticut Home Lenders, LLC (“CHL”) filed a New Application for Registration of Loan Originators with the Consumer Credit Division (“Division”) of this department seeking to register you as a loan originator.  CHL is currently licensed as a first mortgage broker and secondary mortgage broker under Part I of Chapter 668 of the Connecticut General Statutes, “Mortgage Lenders, Brokers and Originators”.  Pursuant to Section 36a-489(b) of the Connecticut General Statutes, I hereby deny and reject the registration for the reasons set forth below.
 
Section 36a-489(b) of the Connecticut General Statutes requires me to register an originator unless I find, among other things, that the character and integrity of such originator are not such as to warrant belief that registration would be in the public interest and consistent with the purposes of Sections 36a-485 to 36a-498a, inclusive, of the Connecticut General Statutes.  If I deny the registration, I must notify the originator and the applicant of the denial and the reasons for such denial.  Any such denial shall, when applicable, be subject to the provisions of Section 46a-80 of the Connecticut General Statutes.
 
Section 46a-80 of the Connecticut General Statutes provides, in pertinent part, that:
(a)  Except as provided in subsection (b) of this section and subsection (b) of section 46a-81, and notwithstanding any other provisions of law to the contrary, a person shall not . . . be disqualified to practice, pursue or engage in any occupation, trade, vocation, profession or business for which a . . . registration is required to be issued by the state of Connecticut or any of its agencies solely because of a prior conviction of a crime.
(b)  A person may be denied . . . a . . . registration to pursue, practice or engage in an occupation, trade, vocation, profession or business by reason of the prior conviction of a crime if after considering (1) the nature of the crime and its relationship to the job for which the person has applied; (2) information pertaining to the degree of rehabilitation of the convicted person; and (3) the time elapsed since the conviction or release, the state, or any of its agencies determines that the applicant is not suitable for . . . the specific occupation, trade, vocation, profession or business for which the . . . registration is sought.
 
(c)  If a conviction of a crime is used as a basis for rejection of an applicant, such rejection shall be in writing and specifically state the evidence presented and reasons for rejection.  A copy of such rejection shall be sent by registered mail to the applicant.
Pursuant to the authority granted to me by Section 36a-17 of the Connecticut General Statutes, I have, through the Division, investigated your activities to determine whether your financial responsibility, character, reputation, integrity and general fitness are such as to warrant belief that granting you registration as an originator would be in the public interest and consistent with the purposes of Sections 36a-485 to 36a-498a, inclusive, of the Connecticut General Statutes.  As a result of such investigation, I have reason to believe that on April 30, 2001, in the U.S. District Court for the District of Connecticut, you were convicted by plea of guilty to criminal charges of violating Section 10(b) of the Securities Exchange Act and Rule 10b-5 for stock manipulation, and were sentenced to five years probation and ordered to pay a $30,000 fine.  I also have reason to believe that on February 1, 2007, you were convicted of unlawful restraint and risk of injury to a minor and sentenced to one year in jail, one year suspended and three years probation.  As a result of your February 1, 2007 conviction, on June 11, 2007, you were sentenced to two months of incarceration for violating your federal probation and given one year of additional supervised release for such violation.  I have considered the criteria contained in Section 46a-80(b) of the Connecticut General Statutes that must be considered prior to rejecting a registration based solely upon convictions.
 
Based on the facts mentioned above, I am unable to find that your financial responsibility, character, reputation, integrity and general fitness are such as to warrant belief that granting you registration as an originator will be in the public interest and consistent with the purposes of Sections 36a-485 to 36a-498a, inclusive, of the Connecticut General Statutes.
 
Very truly yours,
 
Howard F. Pitkin
Banking Commissioner
 
HFP/DK/ag
 
Registered Mail No. RB028034534US
 
cc: Connecticut Home Lenders, LLC